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Barchart
Barchart
Oleksandr Pylypenko

Nasdaq Futures Climb as Alibaba and Micron Boost AI Sentiment

December Nasdaq 100 E-Mini futures (NQZ25) are trending up +0.30% this morning as optimism over artificial intelligence was reinforced by Alibaba’s pledge to boost spending and an upbeat forecast from Micron Technology.

U.S.-listed shares of Alibaba Group (BABA) surged over +9% in pre-market trading after the Chinese e-commerce giant announced it would boost AI spending beyond its initial $53 billion target and released its largest AI language model to date. Also, Micron Technology (MU) rose over +1% in pre-market trading after the largest U.S. maker of computer memory chips posted upbeat FQ4 results and issued above-consensus FQ1 guidance.

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